3D secure payments are created through a secured payment gateway, designed to bring an all-important additional layer of security to online transactions using credit and debit cards. The 3D part stands for three domain structure, which means that there are three constituent parts that work together to make a very secure payment system. These three parts are the issuer (the bank card issuer), the acquirer (the gateway or acquiring bank) and the interoperability domain (the directory server).
By smooth integration of these three
domains, a 3D secure high-risk payment processing system is created. The process will be
quick and easy to use, making online purchases even more attractive to customers, and thus
driving customers to use your business.
The increased security that these systems bring to online transactions is essential to the normal functioning of any modern online business. It allows the streamlined process of paying for goods and services online to really take shape, making it quicker and safer than ever before. The protection that this system brings is key for the prevention of fraudulent behaviour online. Online transactions can be very easily hijacked by professional hackers, and this called for a new system that can help prevent these attacks from occurring. The 3D secure payment gateway for technical support fits this requirement perfectly. By requiring cardholders to enter a code or password in order to perform transactions online, it makes it harder for hackers to make fraudulent purchases, as they no longer just need the card information; they also need the specific password assigned to the cardholder.
One further advantage of the use of 3D secure payment systems is a benefit for merchants specifically. Payment processing for merchant accounts are now protected against fraudulent transactions too, as the liability for chargeback costs shifts to the issuer domain. This basically means that if a fraudulent transaction is performed, the chargeback costs that would normally need to be paid by the acquirer or merchant domain are now the responsibility of the issuer. This stops merchants losing out when fraud occurs, making 3D secure payments systems very desirable for online businesses. They are easy to implement and a great investment for businesses of all sizes. So, 3D secured payment gateways will not only save your customers time, they will also save you money.
Building a strong relationship with your customers means providing them with the service they expect. In the modern age, these expectations are very high, especially those involving safety and security of information. In order to keep your current customers and attract new ones, you will need to provide them with this security in every aspect of the buying experience. 3D secure payments will make this as easy as possible, and people will know that they can trust you as a company or business to take steps to protect their information. This will ultimately lead to growth of your business, and people will respect your brand.
If you want to know more about PayQ’s data policies and how we use your personal data, you can send us an e-mail at the following dedicated e-mail address: firstname.lastname@example.org.
12 Constance Street,
London E16 2DQ, United Kingdom.